Let me share my own experiences and insights. Like everyone else, I also came from a rural background and changed my fate through the cryptocurrency world, turning 100,000 into what I consider financial freedom, around 70 million.
After graduating from university, I worked at a state-owned enterprise, earning over 5,000 a month. Later, I accidentally got involved in cryptocurrency contracts and lost badly! I was 100,000 in debt and felt hopeless...
Later, I continuously added community teachers and seniors, joined one group after another, and I began to learn, accumulate, and improve my understanding. Combining the knowledge learned with practical operations, after experiencing two rounds of bull markets, my assets reached eight figures in 2024. Today, I would like to share some personal experiences:
Most in the cryptocurrency space are short-term traders. It is difficult to hold on to ideal exit points when trading, and they are not very skilled in position control and cannot rely on fluctuations to average out prices. Based on this situation, for most traders, a good entry price is better than everything.
Once there is a profit, first take part of it, secure your gains, and set the remaining portion to stop loss at the cost price. This is something I have always emphasized in my community.
The essence of contract trading strategies
(1) Identify the main trend and trade with the main trend; otherwise, do not enter the market.
(2) If you are trading with the trend, entry point:
1. New breakthrough points in the trend;
2. Breakthrough points trending in a certain direction during sideways consolidation;
3. Pullback points in an upward trend or rebound points in a downward trend.
(3) Positioning with the trend will bring you substantial profits; never get off early;
(4) If the entry aligns with the larger trend, and the paper profit has proven you are correct, you can carry out pyramid-style technical position increases; (see 2)
(5) Keep the position unchanged until the trend reverses and close the position.
(6) If the market trend is against your entry, stop loss and run fast.
In addition to adhering to the above strategies, remember three qualities: discipline, discipline, and discipline!
The way of trading is to accumulate little by little, and compound interest is king. If you have broken even, you must not turn back into a loss. If you have made a profit, you must take a portion to prevent loss of effort. In summary: if you earn, go boldly; if you lose, stick to the original price.
Today, I share nine methods of making money in the cryptocurrency space:
(Regardless of whether you are a beginner or an experienced trader, it is advisable to take screenshots and save them)
1. Coin accumulation method: suitable for bull and bear markets.
The coin accumulation method is the simplest yet most difficult strategy. It is simple in that you buy one or several coins and hold them for six months or even a year without touching them. Typically, the minimum return can reach tenfold. However, beginners often hurry to switch coins or exit after seeing high returns or experiencing price crashes, and very few can hold for a month, let alone a year. Therefore, this is also a method that is extremely difficult to stick to.
2. Bull market chasing the dip method: only suitable for bull markets.
Use a portion of spare money, preferably no more than one-fifth of the total funds. This strategy is suitable for coins with a market cap between 20 and 100, as it won't get stuck for too long. For example, if you buy the first altcoin, you can switch to the next coin that has plummeted when it rises by 50% or more, and repeat this process. If the first altcoin gets stuck, just wait; in a bull market, it will surely break free. The premise is that the coin must not be too poor; this method is actually difficult to control, so beginners need to be cautious.
3. Hourglass vehicle switching method: suitable for bull markets.
In a bull market, almost all cryptocurrencies will rise, with funds pouring into every cryptocurrency like a giant hourglass, progressing from small to large in sequence. The price rise usually starts with leading currencies like BTC, ETH, DASH, ETC, followed by mainstream currencies such as LTC, XMR, BNB, NEO, DOGE, SHIB, etc. Next, cryptocurrencies that have not yet risen generally increase, like RDN, XRP, ZEC, etc., and finally various small coins rise in turn. If Bitcoin has already risen, it is advisable to choose the next level of coins that have not yet started for entry.
4. Pyramid bottom-fishing method: suitable for anticipated major crashes.
Bottom-fishing method: buy one-tenth of your position at 80% of the coin price, one-fifth at 70%, one-third at 60%, and one-half at 50%.
5. Moving average method: Understand some basics of candlestick charts.
Indicator parameters set to MA5, MA10, MA20, MA30, and MA60, with the level set to daily. If the current price is above MA5 and MA10, hold. If MA5 breaks below MA10, sell the holdings. If MA5 breaks above MA10, buy and establish a position.
6. Violent coin accumulation method: Stick to coins you are familiar with; only suitable for long-term quality coins.
With a certain amount of liquid funds, if a coin's current price is $8, place an order to buy at $7. After the purchase is successful, place an order to sell at $8.8. The profit is used to hold coins. The liquid funds continue to wait for the next opportunity, dynamically adjusting based on the current price. If there are three such opportunities in a month, you can accumulate a lot of coins. The formula is that the entry price equals 90% of the current price, and the selling price equals 110% of the current price.
7. AISO violent compound interest method: the core is to frequently participate in various small currency markets. Specifically, when you find that the value of a new coin skyrockets three to five times in a short period, you can withdraw the initial investment and invest it in another potential small currency market. Meanwhile, the extra profits you previously obtained can remain in place to continue enjoying the value increase. In this way, investors can achieve rapid turnover and accumulation of funds, thereby obtaining more substantial returns in the cryptocurrency field.
8. Cyclical band method: the cyclical band method is an investment strategy particularly suitable for non-mainstream cryptocurrencies like ETC. When the coin price continues to fall, investors can gradually increase their positions; when the price falls further, they can add more. Once the market rebounds, and the price rises to realize profits, they can gradually sell their coins. In this way, investors can continually profit from price fluctuations, forming a cyclical process. This method requires investors to have strong market judgment and risk control awareness while patiently waiting for the best buying and selling opportunities.
9. Small coin violent play: If you have 10,000 RMB, divide it into ten parts and buy ten different types of low-priced coins, each ideally priced under 3 RMB. After buying, do not pay attention to them; avoid frequent operations.
When the market starts, profits double! Follow Cheng Ge and trade with the trend, and wealth will naturally come.
Keep an eye on: SPK, C
